MarketingSherpa Blog

As marketers, we see lots of benchmark data and statistics that we base our business decisions on.

At MarketingSherpa, we recently conducted a nine-month study on the state of ecommerce.

You’ll see the results of our research conducted with 4,346 marketers across 95 in-depth charts.

Obviously, this data didn’t come out of thin air. There was a survey that our MECLABS research team carefully constructed to gather those insights.

Crafting effective surveys is potentially the most important part of collecting useful data, whether you’re fielding research for a report or simply gaining customer feedback.

Diana Sindicich, Senior Manager, Data Sciences, MECLABS (parent company of MarketingSherpa), played an integral part in the MarketingSherpa Ecommerce Benchmark Study and provided some tips on how to produce the most effective survey for your needs.

Survey Tip #1. Evaluate your situation

There’s a good time, and a not-so-good time, for everything. This rule of life applies to surveys as well.

In surveys, situations may exist for you that make it a good idea to field a survey, Diana explained.

This could include scenarios of when you want to understand your customers’ motivations or characteristics. Maybe you’re looking to expand your product lines and want to know what your customers would like to see offered.

On the other hand, there are times when a survey may not be the best idea for what you want to accomplish. Perhaps you have a very personalized service with a small group of customers. Surveys can be perceived as impersonal — conversely, an interview would make the customer feel special and valued.

  Read more…

I’ve been digging through MarketingSherpa’s new 2011 Search Marketing Benchmark Report: SEO Edition and finding very interesting data describing social media’s impact on SEO performance.

The most interested stat I came across noted that marketers working in social media reported an average 27% conversion rate for organic search traffic. Those not working in social media reported 17%. That is a 58.8% difference — which is huge.

What could cause this disparity?

Possible explanations are found in a second chart. Marketers were asked whether social media or SEO were effective marketing tactics for achieving a list of objectives.

More marketers said SEO, rather than social media, was a “very effective” way to:
o Increase brand or product awareness (42% vs. 37%)
o Increase website traffic (57% vs. 33%)
o Increase lead generation (35% vs. 18%)
o Increase offline sales revenue (17% vs. 10%)
o Increase online sales revenue (26% vs. 9%)

On the flipside, more marketers said social media was a “very effective” way to:
o Improve brand or product reputation (37% vs. 29%)
o Improve public relations (36% vs. 27%)

Clearly, SEO is more effective at attracting attention and ultimately converting people. However, social media is more likely to increase positive thinking around a product and brand.

This leads me to a hypothesis: marketers who engage in SEO and social media have 58.8% higher conversion rates for organic traffic because their social media work has increased trust in their brands and products.

But that might not be the whole story.

As pointed out in the benchmark report’s analysis, working in social media provides additional benefits. Social profiles and content are indexed by search engines and added to results pages. These additional results can push down a brand’s competition, increasing its organic conversion rates. Also, the social results can broaden the variety of content on a SERP and help brands appeal to more people.

The data are very interesting. If your team has well established SEO and social media strategies, take a look at your stats and look for similar trends. It just might make you smile.

This week marks the launch of MarketingSherpa’s 2011 B2B Marketing Benchmark Survey, which gathers data from members of the B2B marketing community to benchmark their latest best practices, tactics and results.

If you’re involved in B2B marketing, please take the next 5 to 15 minutes to share data and insights:

Click here to take the survey now.

As a thank you for your participation, you will receive an offer for a free copy of the Executive Summary of the 2011 B2B Marketing Benchmark Report, which will include highlights and key findings from the study.

We’re excited to see how your responses illuminate what’s working in B2B marketing today. The B2B community has been humbled by the recent recession and has been forced to operate with limited resources — while producing a higher level of quality leads than ever before.

The organizations that have persevered through budget cuts and increased expectations are the ones that could apply the most efficient marketing tactics for every stage of the buying cycle — and in the process, improve the overall efficiency of their marketing and sales departments.

The greatest challenge for B2B marketers is generating high-quality leads to deliver to their sales teams. Because of this challenge, marketing automation, lead nurturing and lead scoring have become critical tactics for B2B organizations.

In order to optimize the efficiency of marketing and sales departments, walls between these teams are coming down to enable more collaboration. Sales and marketing are working together to identify various stages of the buying cycle for the complex sale, and to determine what marketing collateral or level of sales contact is appropriate for each stage. Through this process, marketing’s role has changed from just generating leads to generating and nurturing leads to the point that they are qualified, and ready for sales involvement.

The next year will be pivotal to the success of these organizations. With signs of an improving economy, the B2B marketing community is feeling more optimistic and reacting with the greatest budget increases we have seen since before the recession. It is critical that these organizations take the lessons they have learned during the recession and apply them efficiently with their now-increasing marketing budgets.

MarketingSherpa’s 2011 B2B Marketing Benchmark Survey will focus on organizations’ best practices, tactics and results in the key areas of marketing automation, lead nurturing, lead scoring and managing the complex sale.

Please feel free to tweet or post the following invitation:

B2B marketers share your insights. Take the 2011 B2B Marketing Benchmark Survey http://www.surveygizmo.com/s/341299/8gnpw @MarketingSherpa

Thank you!

Measuring your marketing is the only way to know which efforts are working and which are wasting money. Even if you can’t measure every impact, you should track as much as possible.

After looking at some data from MarketingSherpa’s 2010 Social Media Marketing Benchmark Report, I wonder how many campaigns are only half-measured, with half their impact open to anyone’s guess.

When asked ‘What is your organization monitoring and measuring to quantify social media impact?’ 50% or more respondents said they were tracking:
o Visitors and traffic sources
o Followers, fans and members numbers
o Commentary about brand or product
o Sentiment around brand or product.

Fewer than 50% of respondents said they were tracking:
o Search engine rank
o Lead generation
o Progress toward social media objectives
o Engagement with influential bloggers, journalists, Twitterers, etc.
o Sales conversion and other ROI metrics
o Competitive share of social media coverage
o Criteria to identify and profile audiences

Astoundingly, only 35% of respondents said they were tracking sales conversion and other ROI metrics related to social media.

Getting more website traffic, Facebook fans and comments is very good. But if you’re not sure whether that’s having an effect on lead generation or sales, many executives will ask: what’s the point?

Marketers across the globe are finding use with social media. But if you want the rest of your organization to take it seriously and to invest more in the channel, you should learn as much about its impact as possible. The data talks.

If social media is helping you learn more about your audience, get data on how that knowledge is improving your marketing. If it’s helping your brand’s image, find a way to quantify it. Hypothetical evidence is as solid as a wet paper towel compared to hard data.

Is your team measuring its social media impact? If not, what’s holding you back? Let us know in the comments…